With the arrival of the new year comes the anticipation of doing things bigger and better. Your workload becomes increasingly tangled in this digital transformation, how can you keep up with the latest marketing trends? How do you know what marketing strategies will make an impact on your bottom line?
As we dig into the strategies and opportunities for 2019, we put together a list of the top ten marketing trends, drawn from our experience with current customers and our learnings from the last Digital Summit in Dallas
#1 Purpose, Creates Loyalty
Like Simon Sinek says: “People don’t buy what you do. They buy why you do it.” Customers don’t trust brands or ads…they trust people.
Giving your brand a purpose affects your employees and creates a bond with your target audience, feeling that together, “We are making an impact for a better world.”
Recent Cone Communications CSR study reveals that 87% of U.S. consumers will purchase a product because a company advocates a cause they identify with, and 76% will refuse it, if it is contrary to their beliefs. Differentiate yourself could mean to upset some, but it will give your brand meaning and it will bring your company to life.
#2 Marketers will Need Technology
Everyday traditional marketing is shifting more and more towards technology. Data analytics, virtual platforms, and machine learning are in the day-to-day lingo of the marketer today. Many of the marketing functions now require coding skills, nevertheless 73% of marketers lack essential technical skills for this new world.
In 2019 companies will continue focusing on improving the integration of their online and offline platforms, and its optimization for customer retention. There will be a great need for technical understanding on how to bring data platforms together.
#3 Legal + Marketing Needs to Work Together
The advent of the internet and digital media platforms have given rise to a huge pool of legal privacy protection issues. Today, 55% of consumers no longer want to provide their personal data and this concern gave rise to the General Data Protection Regulation (GDPR) of 2018, changing the way that companies communicate with prospects and customers. Failure to comply can lead to hefty fines… And while we are still trying to comprehend the ins and outs of the GDPR, here comes the California Consumer Privacy Act (CCPA), a major new state law poised to affect the privacy landscape not just in California, but in the U.S. as a whole.
#4 Rethink Metrics – Reward on What Matters
Nowadays, we cannot measure our success just on website hits. Audience reach, engagement, and conversion, all boils down to one thing… “Customer experience.”
In today’s hyper-competitive market, the only differentiator is Customer Experience and companies are catching up quickly. 2019 will be not just about good customer experience, it has to be an absolutely delightful one! Cause customers trust the feedback of other customers.
Salesforce Customer Growth Evangelist, Tiffani Bova, recently stated: “Customer experience beats price and product every time,” and coming from a senior executive in an $8.4 billion turnover brand, you should pay attention.
There has been a 713% increase in marketing technology choices to work within the last 5 years. An average company uses 91 marketing technology applications, which means an overwhelming amount of data, spread through different platforms.
The new emerging role of a marketing data manager is to help integrate this data and create new strategies to impact customer engagement, customer retention, and marketing optimization. The ever-increasing volume, velocity, variety, variability, and complexity of information has made of big data the fundamental consequence of the new marketer.
#6 AI and machine learning makes hyper-personalization a reality
Artificially intelligent systems are constantly working on the background of popular products and services to optimize customers behavior, predict best offers and provide better content. In the past few years, AI has gone deeper into the marketing process, helping brands enhance every step of the customer experience.
AI tools have become affordable and accessible to companies of all sizes. Oracle has estimated eight out of ten businesses have already implemented or planning to adopt AI as a custoemr service solution by 2020. Previously Gartner research also predicted that AI bots will power 85% of customer service interaction by 2020.
#7 Digital Marketing Firms as Consulting Firms
Today marketing agencies are turning into consulting firms. As marketing consultants, marketers know how to effectively use technology to target consumers, market products and services, and bust the brand to brings the specific results that a company needs. Marketers understand that the internet is a crucial marketing tool and their clients need advice on how to navigate this convoluted technology ecosystem to bridge the gap between them and the online world.
#8 MarTech + AdTech = Holy Grail
Every day we have a new digital tool for marketers to automate tasks and make data-driven decisions. Tools such as Geofencing, IP targeting, social targeting are flooding the marketing landscape. Now marketers are able to reach potential customers in ways never imagine, but companies need the expertise of a savvy digital team to make the best use of their budgets. Methodologies that deliver the right content, at the right time, to the right consumers, help reduce wasted efforts and gets ads to users at critical touch points.
Ad tech methodologies are growing exponentially, according to eMarketer, “by 2020, U.S. advertisers will transact nearly $69 billion in U.S. digital display ad spending programmatically, accounting for more than 86% of the digital display pie.”
#9 Agile Marketing
Agile Marketing improves speed, predictability, transparency, and adaptability of the marketing function. Is applies an iterative process based on short marketing experiments, frequent feedback, and the ability to react to changing market conditions.
A 2018 State of Agile Marketing Report found that 36.7% of marketers report that they have adopted some flavor of agile marketing. And out of the marketers who haven’t yet adopted Agile, around half of them expect to within the next 12 months.
#10 Customer Centricity will Drive Constant Transformation
Putting your customer at the core of your business is what is all about. Besides offering great customer service, companies should offer a great experience, from the awareness stage to the purchasing process, all the way to the post-purchase stage.
One of the customer-centric fields that is rapidly growing is the subscription model. Whether it is a great product offering that makes the customer’s life easier or the purchasing convenience of “set it and forget it”, subscription company websites are booming! they had about 37 million visitors in 2017 and since 2014, that number has grown by over 800%, according to Forbes
As the technology landscape evolves, it will continue to reshape the way we do marketing but whatever your company needs are, from a Marketing Audit to a Strategic Digital Marketing Plan the Forward Vision team will be here to help you every step of the way. We count with an outstanding group of experts that will take your company to the next level, always abiding the current legislation and keeping you updated on the latest marketing trends.